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KARACHI: Despite falling oil prices amid easing geopolitical concerns, the Pakistan Stock Exchange (PSX) recorded yet another jittery session as investors remained undecided about the market’s direction and continued to offload their positions, pushing the benchmark KSE-100 index into the red for the third straight session on Tuesday.
Topline Securities Ltd said the PSX witnessed a weak and volatile session, with rollover-related pressure and fiscal year-end considerations weighing on investor sentiment. The benchmark index oscillated between an intraday high of 933 points at 179,405.56 and a low of 797 points at 177,674.37, before closing at 177,692.92, down 778 points or 0.44 per cent.
Overall participation remained cautious, with investors largely on the sidelines amid portfolio repositioning and profit-taking ahead of the fiscal year-end, leading to a lacklustre close across the broader market.
On the index contribution front, the index heavyweights United Bank Ltd, Bank Al-Habib Ltd, Engro Holdings, Fauji Fertiliser Company, and Bank Alfalah Ltd were the major laggards, collectively dragging the benchmark down by 595 points. On the flipside, Oil and Gas Development Company, Maple Leaf Cement Factory, Pakistan Petroleum Ltd, Sui Northern Gas Pipeline, and Colgate Palmolive provided some support, collectively adding 217 points to the benchmark.
